FTX Not Licensed in Singapore, Monetary Authority of Singapore Says
- Monetary Authority of Singapore says FTX not licensed locally
- Crypto firms not subject to risk-based capital rules in city
The Monetary Authority of Singapore building in Singapore.
Photographer: Wei Leng Tay/BloombergThis article is for subscribers only.
Singapore’s central bank is “carefully reviewing” the license application of FTX.com local subsidiary Quoine Pte. Ltd, amid the bankruptcy blow-up of the disgraced crypto exchange.
The Monetary Authority of Singapore is “taking into account recent developments” in its review of Quoine, which operates the Liquid exchange in the city-state and is currently under an exempt list that allows it to offer digital token services until its license is approved or rejected. The MAS, which is also the financial regulator, said it has not required FTX.com to migrate Singapore users to Quoine.